Easthampton Bank marks successful quarter

EASTHAMPTON – Easthampton Savings Bank had its annual meetings on April 16 at the Log Cabin Meeting House in Holyoke.

President and CEO Matthew S. Sosik reported the completion of another successful quarter for the bank.

“This past year represents yet another in a long string of excellent financial performances at Easthampton Savings,” he said.

Bozena C. Dabek, executive vice president and CFO reported on the bank’s total assets, which were up almost $34 million from a year ago, an increase of 3.5 percent. “Easthampton Savings Bank continues to be one of the most highly capitalized banks in the area, with a capital ratio of 12.8 percent,” she added.

In a report from Randall J. Gage, executive vice president – Residential Lending, he noted, “Over the past year, total loans increased 8 percent or $54.8 million.” Total loans now stand at $733.1 million.

Thomas W. Brown, executive vice president – Retail Banking, noted that the bank’s deposit growth was $35.5 million or 4 percent from this time last year. “Total deposits are now at $839.9 million,” he said.

Sosik added, “Easthampton Savings Bank continues to be one of the best performing and most highly rated banks in the state and, with over $700,000 in charitable giving in 2013, we continue to give back to the communities that we serve.”